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Shib coin expert: Is Shiba Inu coin a good long-term investment? – Deseret News

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Johnny Lyu, the CEO of the world’s third-largest crypto exchange KuCoin, is a fan of Shiba Inu coin as a long-term investment.
Illustration by Alex Cochran, Deseret News

Johnny Lyu, the CEO of the world’s third-largest crypto exchange KuCoin, recently explained why the Shiba Inu cryptocurrency is a good long-term investment.
Shiba Inu coin, a meme-based cryptocurrency, has been known to have short-term dips and rises, allowing investors to pump and dump their assets for potential earnings.

But Lyu said the Shiba Inu coin represents young investor interest in cryptocurrency, which is one reason why it makes for a good long-term investment.

Still, Shiba Inu coin is a risky investment because of the fast-moving market. In fact, Douglas Boneparth, certified financial planner and president of Bone Fide Wealth, told CNBC that potential investors should research the coin before investing.

Similarly, experts at InvestorPlace.com said hoping for Shiba Inu coin to rise in value isn’t a good strategy, either.

In general, the Financial Conduct Authority said cryptocurrencies can be risky for investment due to the volatile market. Caution is super important.

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